Chart TV - Intraday market timing

[charttv]

Ever noticed that the market tends to make a high or a low within the first hour of trade? I needed hard stats to back up my hypothesis so this is what I did:

http://www.pollux.biz/charttv/mar1106/mar1106.html

 

[It's Snake Pliskin]

Good stuff Malcolm!

When`s the next programme?

 

[charttv]

Hi Snake,

I shoot episodes on an ad hoc basis so stay tuned.

 

[Milk Man]

Thats very interesting stuff dude! Well done.

:bier:

 

[Nick Radge]

Do a google search for Toby Crabel or ORB or Opening Range Breakout. His book "Day Trading With Short Term Price Patterns and Opening Range Breakout " sells secondhand hand for US$695. He now manages well over US$1 billion trading around what has been said here, although its now so popular he has had to modify it over the years.

Also look for a book called "The Logical Trader" by Mark Fisher. I highly recommend it and I used his methods a few years back when I was interested in intra day trading.

The same seasonality can be found on the first day of the month being the low/high for that month. I think a guy called Jeffrey Kennedy has resaerched that larger time frame.

 

[charttv]

Thanks for the pointers Nick, i'll look into it.

 

[RichKid]

Excellent stuff there! It's great to see people who are willing to think independently and try new methods, especially as you try to verify your hypothesis, keep it up, I hope you go on to become a market guru!